China’s Gotion High-tech will build a plant for electric vehicle battery materials in the US state of Michigan to supply a battery factory it is planning nearby, aiming to establish a foothold in the subsidy-backed American market, reports Nikkei Asia. The battery maker will invest $2.36 billion in the plant, with plans to complete construction by the end of 2031. The site will produce anode and cathode materials for lithium-ion batteries. The plans were announced on Wednesday.
Gotion, which secured 1.1 square kilometers for the plant, has not disclosed the planned production capacity. Some funding will be raised from third parties, and Michigan is expected to provide subsidies based on the company’s progress.
Gotion also is investing $2 billion to build an electric vehicle battery factory in the nearby state of Illinois, looking to start operations in 2024.